Greece: We Get It

"When in the Course of human events it becomes necessary for one people
to dissolve the political bands which have connected them with another and
to assume among the powers of the earth, the separate and equal station to
which the Laws of Nature and of Nature's God entitle them, a decent respect
to the opinions of mankind requires that they should declare the causes which
impel them to the separation.

"We hold these truths to be self-evident, that all men are created equal,
that they are endowed by their Creator with certain unalienable Rights, that
among these are Life, Liberty and the pursuit of Happiness. -- That to secure
these rights, Governments are instituted among Men, deriving their just powers
from the consent of the governed, -- That whenever any Form of Government
becomes destructive of these ends, it is the Right of the People to alter
or to abolish it, and to institute new Government, laying its foundation
on such principles and organizing its powers in such form, as to them shall
seem most likely to effect their Safety and Happiness."

Greece has voted 'no.' It should not surprise us that this has happened. The
only surprise is that it took this long for "one people to dissolve the political
bands which have connected them with another."

**Note - If you would like to be on the notification list
for my new book, What's Wrong with Money?: The Biggest Bubble of All - and
How to Invest with it in Mind to receive an email when the book is published,
simply send an email to WWWM@enduringinvestments.com and
I will put you on the list!

You can follow me @inflation_guy!

Enduring Investments is a registered investment adviser that
specializes in solving inflation-related problems. Fill out the contact form
at http://www.EnduringInvestments.com/contact and
we will send you our latest Quarterly Inflation Outlook. And if you make sure
to put your physical mailing address in the "comment" section of the contact
form, we will also send you a copy of Michael Ashton's book "Maestro, My Ass!"

Michael Ashton is Managing Principal at Enduring
Investments LLC, a specialty consulting and investment management boutique
that offers focused inflation-market expertise. He may be contacted through
that site. He is on Twitter at @inflation_guy

Prior to founding Enduring Investments, Mr. Ashton worked as a trader, strategist,
and salesman during a 20-year Wall Street career that included tours of duty
at Deutsche Bank, Bankers Trust, Barclays Capital, and J.P. Morgan.

Since 2003 he has played an integral role in developing the U.S. inflation
derivatives markets and is widely viewed as a premier subject matter expert
on inflation products and inflation trading. While at Barclays, he traded
the first interbank U.S. CPI swaps. He was primarily responsible for the creation
of the CPI Futures contract that the Chicago Mercantile Exchange listed in
February 2004 and was the lead market maker for that contract. Mr. Ashton
has written extensively about the use of inflation-indexed products for hedging
real exposures, including papers and book chapters on "Inflation and Commodities," "The
Real-Feel Inflation Rate," "Hedging Post-Retirement Medical Liabilities," and "Liability-Driven
Investment For Individuals." He frequently speaks in front of professional
and retail audiences, both large and small. He runs the Inflation-Indexed
Investing Association.

For many years, Mr. Ashton has written frequent market commentary, sometimes
for client distribution and more recently for wider public dissemination.
Mr. Ashton received a Bachelor of Arts degree in Economics from Trinity University
in 1990 and was awarded his CFA charter in 2001.